Insights: Charles Proctor

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Taking responsibility: the FCA’s Senior Managers and Certification Regime

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The Financial Conduct Authority (FCA) has recently consulted on replacing its Approved Persons Regime with the Senior Managers and Certification Regime (SM&CR) for all FCA solo-regulated financial services firms.  The aim of the SM&CR is to improve accountability within financial services firms and to raise standards of conduct.  The SM&CR was originally introduced for banks […]


Brexit and planning for the unknown in IT

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Introduction As is beginning to become apparent, Brexit has wide-ranging consequences in many commercial and business areas. This is equally true in the sphere of data protection, where much of the applicable legislation has developed at an EU level.  This is readily understandable, given (i) the wide-ranging technological advances that have occurred since the UK […]


Fladgate acts on the refinancing of London & Regional’s headquarters

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Fladgate LLP has acted for London & Regional on the finance aspects of the refinancing of 55 Baker Street, a 530,749 sq ft prime office building owned and managed by London & Regional. The central London property serves as London & Regional’s London headquarters and includes tenants such as BDO, Knight Frank and Oliver Wyman. […]


Fladgate co-sponsors evening for the Monetary Law Committee

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Fladgate LLP is pleased to announce that it has co-sponsored an evening reception and dinner for the Monetary Law Committee of the International Law Association. The event takes place at Gray’s Inn Hall, London on Thursday 6 July. The reception and dinner forms a part of the proceedings of the current meeting of the Monetary […]


Brexit – The Divorce Bill

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On 1 January 1973, the United Kingdom acceded to the treaties constituting the European Communities.  Just over a year later, one of England’s greatest judges, Lord Denning, remarked that Community law “…is like an incoming tide. It flows into the estuaries and up the rivers. It cannot be held back…” The present state of EU/UK […]


Event: Brexit – Planning for the Unknown

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The UK Government finally delivered its Article 50 notice to the European Council on 29 March. The contents of that letter created much disagreement across the continent almost as soon as it was taken […]

Brexit: Take it or leave it?

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The contents of European treaties do not generally achieve public notoriety. But – after acrimonious parliamentary debates, Supreme Court challenges and yards of press coverage – everyone has now heard of Article 50 of the Lisbon Treaty. As part of a deal to secure Parliamentary approval to trigger the EU withdrawal process under Article 50, […]


“Brexit” means “Brexit”?

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On 17 January, the Prime Minister gave her long-awaited speech on the UK’s strategy for Brexit. It is fair to say that her comments received a mixed reception, both in the UK and the EU. The main point is that “soft” Brexit and continued UK  membership of the single market are now definitely off the […]


Fladgate advises on acquisition of London development site within Shari'ah structure

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Fladgate’s Funds, Finance and Regulatory (FFR) Group has recently advised a Bahraini bank on the £15m acquisition of a development site on the outskirts of London within a Shari’ah funded joint venture structure.  The team comprised Ella Leonard (funds partner), Philip Turner (real estate partner), Luke Morris (banking partner), Richard Kaufman (real estate partner), assisted […]


Brexit countdown – Don't bank on a passport

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Philip Hammond’s autumn statement earlier this week arguably could have been renamed the “autumnal statement” since the chancellor’s underlying tone suggested the UK is entering a period of gradual decline and slowdown. Does a Brexit Winter lie ahead? And if so, how can we prepare for it? Charles Proctor, a partner at City of London […]


Hard Brexit and the banking industry

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It is now clear that the United Kingdom is committed to Brexit, although the nature of any continuing relationship with the remainder of the EU remains to be negotiated. However, it seems unlikely that the current EU passporting system for the financial services industry will continue to apply to UK institutions, or to EU banks […]


Do you want a hard or soft-boiled Brexit?

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Charles Proctor explains how the UK could declare itself a free trade zone by ceasing to impose tariffs on imports immediately after its split from the European Union. UK politicians have spent the last few months arguing over the shape of a post-Brexit deal with the EU: will it be ‘hard’ or will it be […]